CAT says room and pillar is like landlines — its days are numbered

Caterpillar (NYSE:CAT) is moving away from room and pillar mining, a business that services mostly coal companies in the US, as the world’s largest heavy machinery maker thinks the technique is obsolete. Speaking to during MINExpo 2016 last month, product manager for large mining trucks Sudanshu Singh said that very few mines currently employ[…]

Joy Global misses expectations on weak mining equipment sales

Shares in heavy equipment maker Joy Global (NYSE:JOY) were slightly down Thursday morning after the company, recently acquired by Japanese rival Komatsu (TYO: 6301), reported a fiscal third-quarter profit of $128,000, or less than 1 cent per share. The Wisconsin-based company, the largest independent manufacturer of underground-mining equipment, reported adjusted earning for one-time gains and costs of[…]